document.write( "Question 1149087: We want $5000 in 9 years. How much do we deposit each quarter in an account earning 8% interest compounded quarterly?
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Algebra.Com's Answer #770443 by MathTherapy(10555) $\"\"$ $\"About$

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We want $5000 in 9 years. How much do we deposit each quarter in an account earning 8% interest compounded quarterly?
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Tutor IKLEYN made a mistake. This amount will be compounded QUARTERLY, not monthly. Hence, the 12 in her calculation should be 4 instead. 
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document.write( "As a result, the correct amount to deposit each quarter will be: . 
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document.write( "This amount was reduced to the nearest cent, to 2 decimal places, or to the nearest hundredth. \n" );
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